4. Operations Analytics
Forecasting Methods — Quiz
Test your understanding of forecasting methods with 5 practice questions.
Practice Questions
Question 1
Which of the following best distinguishes qualitative forecasting methods from quantitative forecasting methods?
Question 2
Which forecasting method uses the actual demand from the most recent period as the forecast for the next period?
Question 3
Which error measurement technique calculates the average of the absolute values of forecast errors?
Question 4
A 4-period simple moving average is used to forecast weekly demand. If the demand in the last four weeks was 120, 130, 110, and 140 units, what is the moving average forecast for next week?
Question 5
Using exponential smoothing with smoothing constant $\alpha=0.3$, if the forecast for period $t$ was 200 units and the actual demand was 220 units, what is the forecast for period $t+1$?